Coinbase tops Q1 estimates on revenue, earnings

Coinbase (COIN) delivered strong first-quarter earnings, surpassing Wall Street's estimates on both the top and bottom lines. The cryptocurrency exchange reported revenue of $1.64 billion, beating estimates of $1.32 billion, while its adjusted earnings per share (EPS) stood at $4.40, surpassing the $1.07 projection. To provide insight into Coinbase's results, Kindred Ventures Founder and Managing Partner Steve Jang joins Market Domination Overtime. Jang names the approval of bitcoin ETFs as a tailwind for Coinbase, which primarily benefited the exchange's legacy business of consumer trading. He notes that the company is entering its "second chapter" since going public, positioning itself as "a provider for the largest financial institutions on the planet." With Coinbase creating a platform for developers, Jang draws parallels to the early stages of tech giants like Facebook (META) or Amazon Web Services (AMZN). He describes this strategy as "forward-looking" and believes it will serve as a catalyst for Coinbase's long-term growth. "Coinbase is, was, and continues to be the best company to build the pillars that create the gateway for crypto and traditional finance," Jang tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith